World News
Troubled Rickmers Maritime Sells Vessel
Rickmers Trust Management Pte. Ltd. (RMT), trustee-manager of Singapore's Rickmers Maritime, Thursday announced it has entered into a memorandum of agreement for the sale of the vessel Kaethe C. Rickmers.
The vessel sale is said to have secured senior loan facilities extended by HSH Nordbank AG, Singapore Branch and DBS Bank Ltd (HSH Syndicate) for Rickmers Maritime.
"The net proceeds from the sale will be applied towards the payment of operating costs of the secured vessels under the HSH Facility and partial prepayment of the HSH Facility," said RMT, noting the its has also entered into a deed of consent with the HSH Syndicate for their approval of the sale.
RMT says Rickmers Maritime will report an impairment loss of about $31.6 million for the fourth quarter of 2016 in relation to the vessel sale.
Last month, Ship & Bunker reported that RMT bondholders rejected a major debt restructuring proposal at a December 21 meeting.
The company's trustee manager had previously said that if bondholders did not approve the financial restructuring package through their votes, RMT's liquidation could result.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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